Radhakishan Damani-promoted DMart has paid a stamp responsibility of Rs 7.03 crore for the transaction that was registered on Could 6.
DMart is trying to redevelop the land right into a retail centre or a business constructing
Persevering with its strategic development trajectory, billionaire Radhakishan Damani’s Avenue Supermarts, which owns grocery store chain DMart, has purchased a 1.2 acre of land in Mumbai’s Chandivali suburb for over Rs 117 crore. This transfer signifies DMart’s dedication to increasing its presence in India’s megacities.
The land, which is presently occupied, homes a ground-plus-one industrial construction. DMart is trying to redevelop the land right into a retail centre or a business constructing. This aligns with DMart’s latest development of diversifying its retail choices past simply grocery shops.
Other than the present ground house index (FSI) out there on this plot, the corporate has bought 0.5 extra FSI, or permission to develop 26,000 sq ft, from the civic authority.
The billionaire Radhakishan Damani-promoted firm has paid a stamp responsibility of Rs 7.03 crore for the transaction that was registered on Could 6, based on an Financial Instances report citing paperwork accessed via actual property knowledge evaluation platform CRE Matrix.
In September 2023, it acquired retail house inside a residential constructing in Kandivali West, hinting at potential growth into different retail segments.
DMart has a presence throughout Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, the Nationwide Capital Area, Tamil Nadu, Punjab, and Rajasthan. This strategic funding in prime Mumbai actual property displays DMart’s confidence within the metropolis’s retail market potential.
Shares of Avenue Supermarts on Monday have been buying and selling decrease by Rs 76.4 or 1.59 per cent at Rs 4,718.3 apiece on the BSE, as on 12:53 pm.
